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Iovance Biotherapeutics, Inc.

IOVA Nasdaq Biological Products, (No Diagnostic Substances) Financials FY2016–FY2025

Revenue Total sales reported in the income statement.
$264M
60.6% vs prior year
Operating margin Operating income as a share of revenue.
−153.1%
87.8 pts
Net income Profit after all expenses, interest and tax.
−$391M
Free cash flow Cash from operations minus capital spending.
−$336M
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap Last close times the latest diluted share count, so it is approximate.
—
P/E Last close divided by diluted earnings per share over the last four quarters.
—
On −$1.09 EPS (TTM)

What Iovance Biotherapeutics, Inc. does

No business description yet.

Legal name
IOVANCE BIOTHERAPEUTICS, INC.
Fiscal year ends
December 31, 2025
Latest annual report
10-K · Feb 24, 2026
Accession · CIK
0001104659-26-018899
0001425205

Revenue and margins

Iovance Biotherapeutics, Inc. had $264M of revenue in fiscal 2025, up 60.6% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was −$336M in fiscal 2025, −127.6% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Iovance Biotherapeutics, Inc. returned — to shareholders in fiscal 2025. The diluted share count rose 23.2%.

Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Balance sheet

Cash, debt and the ratios that show how comfortably Iovance Biotherapeutics, Inc. can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $504M$472M$280M$324M$297M
Current ratio 5.7x5.2x2.8x3.7x3.2x
Quick ratio 5.7x5.2x2.7x3.3x2.8x
Total assets $777M$664M$780M$910M$913M
Total liabilities $156M$164M$196M$200M$215M
Shareholders' equity $622M$500M$585M$710M$699M
Net debt (− = net cash) —————

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$0.0M

0 insiders

Of sales under plans

—

$0.0M

No open-market insider trades in the last 12 months.

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Net income is positive ✕ ✕ ✕ ✕ ✕ ✕ ✕ ✕ ✕ ✕
Cash from operations is positive ✕ ✕ ✕ ✕ ✕ ✕ ✕ ✕ ✕ ✕
Return on assets rose — ✕ ✓ ✕ ✓ ✕ ✕ ✓ ✓ ✕
Cash from operations exceeds net income ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
Debt fell relative to assets — — — — — — — — — —
Current ratio rose — ✕ ✓ ✕ ✓ ✕ ✕ ✕ ✓ ✕
Share count didn't rise — ✕ ✕ ✕ ✕ ✕ ✕ ✕ ✕ ✕
Gross margin rose — — — — — — — — ✓ ✕
Revenue rose relative to assets — ✕ ✕ — — — — — ✓ ✓
F-score — / 31 / 73 / 7— / 6— / 6— / 6— / 6— / 65 / 82 / 8
Accruals ratio −11.8%−8.2%−7.0%−9.4%−9.8%−14.8%−14.3%−11.4%−2.3%−9.7%
Altman Z'' 36.4812.1035.432.725.31−0.15−4.72−7.58−5.32−7.27

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $0.0M $0.0M $0.0M — — — — $1.2M $164M $264M
Gross profit — — — — — — — $0.2M $70.8M $90.3M
Research and development $26.9M $71.6M $99.8M $166M $202M $259M $295M $333M $276M $300M
Operating income −$53.6M −$92.9M −$128M −$207M −$262M −$343M −$399M −$461M −$395M −$403M
Pretax income — — — — — −$342M −$396M −$448M −$375M −$393M
Income tax $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M −$3.5M −$2.8M −$2.1M
Net income −$52.9M −$92.1M −$124M −$198M −$260M −$342M −$396M −$444M −$372M −$391M
Net income to common −$102M −$92.1M −$124M — — — — — — —
Diluted EPS −$1.85 −$1.41 −$1.27 −$1.59 −$1.88 −$2.23 −$2.49 −$1.89 −$1.28 −$1.09
Diluted shares 0.00B 0.00B 0.00B 0.00B 0.00B 0.00B 0.00B 0.00B 0.00B 0.00B
Cash flow
Cash from operations −$32.7M −$78.7M −$101M −$159M −$205M −$228M −$293M −$362M −$353M −$302M
Capital expenditure $1.5M $1.0M $1.2M $6.9M $46.8M $37.6M $20.4M $22.3M $11.1M $33.8M
Free cash flow −$34.2M −$79.7M −$102M −$166M −$252M −$266M −$313M −$384M −$364M −$336M
Depreciation and amortization $1.0M $1.0M $1.0M $1.2M $1.1M $3.1M $9.3M $11.6M $11.3M $12.9M
Stock-based compensation $18.9M $12.0M $20.0M $24.3M $40.9M $69.8M $84.0M $62.6M $110M $61.6M
Acquisitions — — — — — — — $213M — —
Balance sheet
Cash and short-term investments $107M $145M $469M $307M $629M $504M $472M $280M $324M $297M
Current assets $170M $149M $475M $316M $636M $508M $479M $308M $457M $443M
Current liabilities $5.0M $9.6M $14.4M $39.1M $54.9M $89.2M $91.5M $110M $122M $138M
Inventory — — — — — — — $10.4M $51.5M $51.7M
Property and equipment, net $2.4M $2.5M $2.7M $8.5M $59.2M $101M $105M $114M $109M $131M
Intangible assets — — — — — — — $229M $282M $279M
Total assets $172M $155M $481M $345M $768M $777M $664M $780M $910M $913M
Total liabilities $5.0M $9.9M $14.6M $45.7M $112M $156M $164M $196M $200M $215M
Shareholders' equity $167M $145M $466M $299M $656M $622M $500M $585M $710M $699M
Margins
Gross margin — — — — — — — 13.1% 43.2% 34.3%
Operating margin — — — — — — — −38,735.0% −240.9% −153.1%
EBITDA margin — — — — — — — −37,762.1% −234.1% −148.2%
Net margin — — — — — — — −37,345.4% −226.8% −148.4%
FCF margin — — — — — — — −32,305.3% −221.9% −127.6%
Returns
Return on capital employed −32.1% −63.7% −27.5% −67.7% −36.7% −49.8% −69.7% −68.7% −50.2% −52.1%
Return on equity −31.7% −58.9% −40.4% −51.6% −54.3% −53.6% −70.6% −81.9% −57.5% −55.5%
Return on assets −30.8% −56.3% −38.8% −47.9% −46.6% −44.3% −54.9% −61.5% −44.0% −42.9%
Return on tangible equity −61.3% −63.3% −26.5% −66.1% −39.5% −55.1% −79.2% −125.0% −87.0% −93.3%
Growth
Revenue growth — — — — — — — — 13,699.0% 60.6%
Share count change — 17.9% 49.2% 27.7% 11.3% 10.9% 3.8% 47.6% 23.3% 23.2%
Financial health
Current ratio 34.1x 15.6x 33.0x 8.1x 11.6x 5.7x 5.2x 2.8x 3.7x 3.2x
Quick ratio 34.1x 15.6x 33.0x 8.1x 11.6x 5.7x 5.2x 2.7x 3.3x 2.8x
Capital allocation
Capex / revenue — — — — — — — 1,874.7% 6.7% 12.8%
Stock comp / revenue — — — — — — — 5,267.0% 66.8% 23.4%
Quality scores
Piotroski F-score — 1.0 3.0 — — — — — 5.0 2.0
Altman Z'' 36.5 12.1 35.4 2.7 5.3 −0.2 −4.7 −7.6 −5.3 −7.3
Accruals ratio −11.8% −8.2% −7.0% −9.4% −9.8% −14.8% −14.3% −11.4% −2.3% −9.7%

Source: SEC EDGAR XBRL filings (CIK 0001425205). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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